9-Unit Apartment
New
For Sale
$1,920,000
11505 Tiara Street, North Hollywood, CA 91601
Residential Income, North Hollywood, CA
Property Size6,724 SF
Lot Size0.24 Acres
Price / SF$285.54
Days on Market5
Property Features for 11505 Tiara Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
10
Bathrooms
9
Full bathrooms
9
Rooms
Bathroom 8, Bedroom 6, Bedroom 5, Bathroom 1, Bedroom 10, Bathroom 6, Bathroom 5, Bathroom 9, Bathroom 3, Bedroom 7, Bedroom 3, Bathroom 2, Bedroom 1, Bathroom 4, Bedroom 2, Bedroom 9, Bathroom 7, Bedroom 4, Bedroom 8
Subdivision
NHO - North Hollywood
Standard status
Active
APN
2338010003
Size
6,724 SF
Lot size
0.24 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1981
Floors in Building
2
Flooring type
Linoleum, Carpet, Tile - Ceramic
Listing Agency:
Keller Williams Exclusive Properties · Keller Williams Realty
(805) 777-7117
Listed By:
Norma Halvorson · License #01700077
(805) 298-0685
Added: Sep 18
Changed: Sep 22
Last Checked: Sep 22 at 2:06PM
MLS# 226004521
Copyright © 2026 Conejo Simi Moorpark Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 9-unit apartment property, constructed in 1981, contains 6,724 square feet of rentable space on a 10,531-square-foot lot. The unit mix includes eight 1+1 units and one 2+1 unit, with linoleum, carpet, and ceramic tile flooring represented throughout the property. Two units are vacant, and current rents are below market, creating an opportunity to address occupancy and rental income performance.
The property is served by public water and public sewer. Its North Hollywood setting provides access to the NoHo Arts District, Metro rail stations, the North Hollywood Red Line and Orange Line busways, and the 101, 170, and 134 freeways. Nearby neighborhood amenities include theaters, galleries, cafes, restaurants, bars, music venues, and shops.
The property is served by public water and public sewer. Its North Hollywood setting provides access to the NoHo Arts District, Metro rail stations, the North Hollywood Red Line and Orange Line busways, and the 101, 170, and 134 freeways. Nearby neighborhood amenities include theaters, galleries, cafes, restaurants, bars, music venues, and shops.
Key Highlights
- 9‑unit apartment property built in 1981
- Unit mix includes eight 1+1 units and one 2+1 unit
- 6,724 square feet of rentable space on a 10,531‑square‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$108,195
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.64%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,163,900
$2.2M
Cap Rate 7%
$1,545,643
$1.5M
Cap Rate 9%
$1,202,167
$1.2M
Market Conditions
NOI Build-Up for 6,724 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$213.8K $31.80/SF
− Vacancy
−$17.1K −$2.54/SF
EGI
$196.7K $29.26/SF
− OpEx
−$88.5K −$13.17/SF
NOI
$108.2K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,163,900
Cap Rate 7%
$1,545,643
Cap Rate 9%
$1,202,167
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.35M – $1.80M
NOI $108,195 @ 7.0% cap · market cap 5.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.60M
$3.15M – $4.20M
NOI $252,000 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
9
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,749
Businesses Nearby
Explore this area
Business Placement
Demographics for 91601, CA
39,429
Population
20,539
Households
1.9
Avg Household Size
35
Median Age
51%
College-Educated
89%
High-School Grad
2.6 sq mi
ZIP Area
15,165
Density / Sq Mi
$77,540
Median Household Income
$48,907
Median Earnings
$2,115
Median Rent
$961,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Income-producing multifamily property with eight one-bedroom units and one two-bedroom unit.
Where is this apartment building located?
The property is located at 11505 Tiara Street North Hollywood, CA.
What is the asking price?
The asking price for this property is $1,920,000.
What are key features of this property?
This property features: 9‑unit apartment property built in 1981; Unit mix includes eight 1+1 units and one 2+1 unit; 6,724 square feet of rentable space on a 10,531‑square‑foot lot
